With this new late stage fund, Medicxi will help fill a clear gap in
Europe, where talented life sciences entrepreneurs do not have access to
as much local financial support as their US-based counterparts to expand
exciting opportunities into more mature companies.

Cornerstone strategic investors backing this vision in the MG1 fund, are
Novartis, Verily and the European Investment Fund (EIF). The fund also
includes most of the institutional LPs that previously backed Medicxi’s
first fund, as well as several new investors. With Novartis’ investment
in MG1, Medicxi now has strategic partnerships with three of the world’s
largest pharmaceutical companies.

MG1 will be supported by a Scientific Advisory Board (SAB), which will
benefit from the sector expertise of the senior executives of Novartis
and Verily.

MG1 is a continuation of Medicxi’s pioneering ‘asset-centric’ investment
strategy and will be looking to invest in private or public companies
with at least one asset in Phase II or beyond that Medicxi believes can
become a licenced pharmaceutical product, meeting unmet medical needs.
The backers share Medicxi’s belief that, whilst the European life
sciences sector is recognised for its innovation, it has been held back
by the lack of growth capital.

Giuseppe Zocco, co-founder of Index Ventures and co-leader of the firm’s
first growth fund in 2007, will be the Medicxi Partner responsible for a
dedicated growth team. This team will be fully integrated with the
established Medicxi team.

Francesco De Rubertis, co-founder and Partner at Medicxi, said:
"The backing by Novartis and Verily is extremely exciting for us. We
look forward to inspiring and insightful sessions of the Scientific
Advisory Board. We believe these meetings will greatly benefit our
portfolio companies."

Andrew Conrad, CEO of Verily, said: “We are excited to partner
with Medicxi, Novartis and EIF to help European life sciences innovators
accelerate patient and physician access to new and promising
therapeutics.”

Pier Luigi Gilibert, Chief Executive of the European Investment Fund,
said: “The combination of Novartis, Verily and Medicxi will have a
positive impact on the future of the life sciences sector in Europe.
Since it was spun out of Index Ventures, Medicxi has continued to be a
leader in the life sciences investment community, and this new fund
offers us the opportunity to support companies with growth potential
that for too long have had to look elsewhere.”

Giuseppe Zocco, co-founder and Partner at Medicxi, said: “This
late-stage growth fund will support ambitious European entrepreneurs who
are willing and able to build innovative companies through advanced
clinical development and market entry, rather than pursuing a premature
and generally suboptimal early exit through partnering or M&A."

Since 2016, Medicxi has raised in excess of $500 million of new capital
to invest across early and late stage companies through MV1 and MG1.